Asia Region

The Group is one of the key European insurers in the Asian market.

The region includes businesses in China, Hong Kong SAR, India, Indonesia, Malaysia, Philippines, Thailand, and Vietnam.

Generali has a major role in the Life and P&C segments through a distribution strategy for its products that includes agents, brokers, digital channels and agreements with banking groups. 

Life premiums grew by 29.3%, in particular thanks to the contribution of China, especially in the savings and pension line. In the P&C segment, premiums recorded an increase of 9.6%, thanks to the contribution of India, while Malaysia remained stable compared to the previous period, following risk selection measures in motor business.

€ 7,367

million in premiums

€ 260

Million Operating Result

8

markets

Manager in charge

Roberto Leonardi

Roberto Leonardi

Asia Regional Officer

Details

Main Group Companies

Generali conducts its life insurance operations in Mainland China in partnership with CNPC Capital, one of the world’s largest state-owned enterprises and a major player in the global energy sector. Due to its prominent position in the Chinese market, Generali China Life makes a significant contribution to both the region's and the group’s revenue and operating results.

Additionally, Generali wholly owns Generali China Insurance (GCI), a property and casualty insurance company that offers P&C products. As a wholly foreign-owned entity, GCI operates under the Generali brand in China, fully aligning with Generali’s strategic objectives and enabling the local business to capitalize on the rapidly growing market in the country.

In 1981, Assicurazioni Generali S.p.A was first registered as an authorized insurer in Hong Kong, with the business extending into the life insurance sector in 2016 with Generali Life (Hong Kong) Limited.
Generali Hong Kong has recently won the “5-Star Savings Insurance Award”, “5-Star Whole Life Critical Illness Insurance Award” and “5-Star Term Critical Illness Insurance Award” at 10Life 5-Star Insurance Award 2022, recognizing its outstanding performance in delivering comprehensive health and wealth solutions.

In India, Generali has two insurance companies operating under the brand name "Future Generali".  Generali is the controlling shareholder, owning a 74% stake in both Future Generali India Life Insurance Co. Ltd. and Future Generali India Insurance Co. Ltd.

This is the maximum foreign shareholding permitted and remaining stakes are held by domestic Indian partners. The insurance companies are headquartered in Mumbai and operates in over 230 offices across India. They provide comprehensive Life, Health and General Insurance solutions to over 4 million customers.

PT Asuransi Jiwa Generali Indonesia (Generali Indonesia) is part of the Generali Group which has been operating in Indonesia since 2008 and has developed the insurance business through multi-distribution channels, such as agency, bancassurance, and corporate solutions. In line with the vision to become a Lifetime Partner for customers, Generali Indonesia presents innovative product solutions for life protection, health, critical illness, pension fund planning for both individual and corporate customers.

PT Asuransi Jiwa Generali Indonesia is licensed and supervised by the Indonesian Financial Services Authority (OJK).

Generali Group has been active in Malaysia since 2015 when it acquired a 49% stake in Multi-Purpose Insurance Berhad - a P&C insurance subsidiary of Multi-Purpose Capital  Holdings to create MPI Generali. In 2022, Generali acquired full ownership of the MPI Generali joint venture and purchased a controlling majority in AXA Affin General and Life Insurance in Malaysia.

In 2023, Generali unfolded a new growth chapter with the launch of a single, unified brand Generali Malaysia ― one of the largest general insurers and emerging life insurer in Malaysia backed by over 1,600 employees, more than 9,000 agents and partners, and an extensive network of branches nationwide.

Now with an expanded scale, breadth, and expertise, Generali Malaysia strives to further its ambition of being a trusted Lifetime Partner and a progressive insurer that safeguards the needs of Malaysians and their future generations.

Generali Life Assurance Philippines, Inc. (GLAPI) has been providing life and employee benefit insurance solutions to international and local clients in the Philippines since 1999. GLAPI has an extensive network of medical providers nationwide as well as accessible digital platforms to provide ease of access to the company’s services.

Established in November 2002, Generali Life Assurance (Thailand) plc. and Generali Insurance (Thailand) plc, provide a creative and comprehensive range of products, including life and non- life insurances to satisfy the needs of individuals and corporate clients.

Established in 2011, with the motto of “Simpler, smarter, customer-centric”, Generali Vietnam Life Insurance Co., Ltd. (Generali Vietnam) has quickly become one of the leading life insurers in the country with strong focus on customer experience, persistently pursuing the ambition of becoming “Lifetime Partner” to customers.

With diverse distribution channels, a nationwide network of more than 110 GenCasa (agency offices) and customer service centers, Generali Vietnam is serving nearly 500,000 customers & 400 business clients across the country.

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